Tax deduction under section 35AC approves specified corporate projects for eligible deductions subject to prescribed durations. Approval under section 35AC is granted to specified companies and projects, specifying eligible project costs and the maximum portion allowable as a deduction. The notification describes project purposes (construction, furnishing, health, sanitation, drinking water, family planning, renewable energy, income-generating activities) and links each approved project's deduction entitlement to a defined force period of one year for one entry and three assessment years for the other, on the recommendation of the National Committee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax deduction under section 35AC approves specified corporate projects for eligible deductions subject to prescribed durations.
Approval under section 35AC is granted to specified companies and projects, specifying eligible project costs and the maximum portion allowable as a deduction. The notification describes project purposes (construction, furnishing, health, sanitation, drinking water, family planning, renewable energy, income-generating activities) and links each approved project's deduction entitlement to a defined force period of one year for one entry and three assessment years for the other, on the recommendation of the National Committee.
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